Wednesday, February 8, 2023

Battery Materials

Battery MaterialsIPO & FundraisingUSA

Mining investor TechMet closes second funding round at $120 million

April 15 (Reuters) - Mining investment firm TechMet, which counts the U.S. government as its largest investor, said on Thursday it had closed its second round of funding at $120 million, roughly 50% higher than initially expected. The firm, which controls battery recycler Li-Cycle Corp, has now raised nearly $133 million between its two rounds of funding. TechMet plans to use the funds to continue investments in mines and other projects that produce metals used to make electric vehicles. "Our industry must completely transform itself in order to supply these strategic materials...
Battery Materials

Vision Blue Resources strategic investment in Ferro-Alloy Resources Limited

Highlights Investment of up to US$11.5m in London Stock Exchange listed Ferro-Alloy Resources Limited (“FAR”), developer of the Balasausqandiq Vanadium Project ("Balausa Project"), which has the potential to become the lowest cost producer of vanadium globallyVBR’s investment forms the majority of a total US$12.6m funding packageThe funding will:Complete the expansion of the existing, cashflow generating, processing facilitiesComplete the Bankable Feasibility Study on the Company's large scale, low cost Balausa ProjectSir Mick Davis to be appointed Chairman of FAR’s BoardEstablishment of strategic relationship provides Vision Blue Resources with the following future...
Battery MaterialsLithiumUSA

Rio Tinto achieves battery grade lithium production at Boron plant

BORON, Calif.--(BUSINESS WIRE)-- Rio Tinto has commenced production of battery-grade lithium from waste rock at a lithium demonstration plant at the Boron mine site in California, United States. The demonstration plant is the next step in scaling up a breakthrough lithium production process developed at Boron, to recover the critical mineral and extract additional value out of waste piles from over 90 years of mining at the operation. An initial small-scale trial in 2019 successfully proved the process of roasting and leaching waste rock to recover high grades of lithium....
Battery MaterialsLithium

Battery Grade Lithium Hydroxide produced from Finniss Project Concentrate

Advanced Australian lithium developer Core Lithium Ltd (ASX: CXO) (Core or Company) is pleased to announce the production of battery grade lithium hydroxide monohydrate (LH) from spodumene mineral concentrate from the Finniss Lithium Project.The scoping level test work program has demonstrated that the conventional ‘direct’ flowsheet can be applied to the processing of the mineral concentrate sample to produce battery grade lithium hydroxide monohydrate. In light of the success of this program and the recently granted Federal Government Major Projects status, Core is now considering the obvious down-stream value potential...
Battery MaterialsOutlook

Fitch Solutions forecasts nickel demand for EV batteries to grow 29.2% per year to 2030

Fitch Solutions expects nickel demand for EV battery manufacturing to experience an annual average growth rate of 29.2% over 2021-2030—outpacing demand for both lithium and cobalt. This estimate is a significant increase from the market analysis firm’s 2018 forecast, due to upwards revisions in its EV sales forecasts. Nickel demand will be supported by the metals persisting popularity in battery cathode chemistry, with downside risks caused by concerns over future supply availability, Fitch said. Fitch bases its forecast on the underlying assumption that NMC 811 cathodes will rise to 80.0% of NMC...
Battery MaterialsFinance

Vision Blue Resources Launches $300M SPAC Focused on Becoming Battery Metals Giant

Mick Davis, who is the former CEO of Xstrata, recently founded Vision Blue Resources, a battery metals investment firm whose objective is to become a battery metals giant. The company recently launched a $300 million SPAC (special-purpose acquisition company). Last week, ESM Acquisition Corp, co-sponsored by the Energy and Minerals Group, a private equity mining investor and VBR, made its debut on the U.S. market. The company seeks to invest in mining projects that are engaged in the production of minerals required by electric vehicles and other green energy technologies. The objective is to use...
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